Marine Survey Company Avoids Storm

MarineLink.com

Wednesday, April 24, 2013

On Wednesday April 24, the marine survey company EIVA a/s published its 2012 Annual Report. The offshore specialist thereby concludes a financial year where its activities have been characterised by growth, with high expectations for 2013.

While many businesses are still experiencing weak demand, EIVA a/s can look back on a very satisfactory year in the offshore industry.

EIVA has provided hardware and software for businesses specialised in energy, engineering and surveys at sea since 1978, which the annual report published today demonstrates through strong results that are the best the company has seen the last 35 years.

While the revenue declined by nearly DKK 6 m due to reduced sales of third-party equipment, the number of own products sold advanced. EBITDA was increased by 43% from DKK 10.4 m in 2011 to 14.9 m in 2012, and the net profit ratio rose from 9.3% to 15.6%.

Strongly anchored in the industry
"We experienced growth across the board in 2012. Our software solutions have a strong position with increased sales, both in terms of software packages and maintenance agreements. We have increased investments in product development, and we boosted the number of staff significantly in order to keep up with demand," said Jeppe Nielsen.

Product sales are not the only contributor to the positive results. The market has shown great interest in staff trained in EIVA’s advanced software, which has heightened the demand for the training courses also offered by the company. Among others, this had led to a partnership with the internationally recognised Atlas Services Group, specialised in recruitment and training in the energy and marine industry.

2012 also saw EIVA strengthening its contribution to the education of future specialists focusing on a broad range of marine survey competences. Through partnerships with Aarhus University, College of Charleston and University of Washington in the US, the company has created a number of internships and made itself available in connection with training and competence development.

In 2012, EIVA launched a new ROTV product range, ScanFish III, which has received much attention, and a number of systems were delivered during the year. Moreover, the company has a range of new hardware and software solutions on the drawing board for 2013.